FreshForex is an online Forex broker launched in 2008 and which offers services ranging from Forex trading down to Share Dealing trading, CFD trading and Social trading.
With its head office in Russia, FreshForex has strongly established itself as a global broker with a notable profile touting the broker as having attracted more than 10,000 traders.
In this article, you’ll find out useful information about FreshForex including the advantages and disadvantages of trading with the Forex broker.
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How to Register with FreshForex
To get started as a Forex trader on FreshForex, you’ll have to sign up for an account. Provide the sign-up information required of you so that you can get login details via your email. Subsequently, submit your identification documents so that the account can get validated. Finally, deposit fund in the account and download your preferred trading platform to get started.
What Are the Pros of FreshForex?
Versatile language support –Courtesy of its support for multiple languages, FreshForex makes it possible for traders to select the (official) language(s) they understand most, hence helping them to better understand how the trading platform works. Advantageously, FreshForex supports a decent number of languages including English, French, Spanish, Portuguese, Italian, Arabic, Russian, Hebrew, Hindi, Slovenian, Polish, Romanian, German, Chinese and Czech.
Excellent customer support –This, of course, is one of FreshForex’s advantages over several other Forex brokers. FreshForex therefore provides customers with email support, the option of phone conversation and a live chat. All of these support features combine to give the traders on FreshForex a real shot at lodging their complaints easily and getting them resolved in time.
Variety in the account types offered –FreshForex paves the way for its users to conveniently choose the account type(s) they deem suitable depending on their trading experience, goals and expectations. For instance, somebody without sufficient background knowledge of FreshForex may first opt for the demo account. This way, such a person is very likely to have a better feel of how FreshForex works before making any funding payment. Obviously, FreshForex’s demo account is likely your surest bet if you’re willing to first learn how trading is done on FreshForex. In addition to the demo account (which is clearly FreshForex’s practice account), below are the other trading accounts offered by FreshForex:
- Mini Account
- STP Account
- Standard Account
- Islamic Account
- ECN Account
It offers a broad range of trading instruments –With FreshForex, traders are at liberty of trading a broad array of instruments, reported to be as many as 116 instruments.
What Are the Cons of FreshForex?
Charging of inactivity fees –This implies that as a registered FreshForex trader, you may be charged a certain fee for having failed to use your FreshForex account (for buying or selling) over a given period of time. Inactivity fees shouldn’t appear unusual to majority of experienced Forex traders as some financial service firms also tend to charge their clients certain fees for being inactive.
No FCA regulation –Some reports have claimed that FreshForex is not an FCA-regulated broker but people trading with FreshForex are still guaranteed financial security as FreshForex is duly regulated by CRFIN and KROUFR.
While CRFIN stands for Centre for Regulation in OTC Financial Instruments and Technologies, KROUFR serves as the Commission for the regulation of relations on the financial market.
Fund Deposit on FreshForex
To fund your FreshForex account, you can select any of the supported payment methods namely Neteller, Skrill and credit cards. It’s important you note that the payment method you’re able to access (for funding your FreshForex account) will be largely determined by your country of residence and your FreshForex entity.
Also important is the fact that 100 USD is the minimum amount you can deposit in your FreshForex account to begin trading with the Forex broker.
FreshForex is not FCA-regulated as noted earlier, the Forex broker is still duly regulated by two trusted agencies –CRFIN and KROUFR. This, arguably, is a likely indication that it is safe to trade with FreshForex.* ADS**
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